Team Academy Charter School Inc
- Assets
- $203.9m
- Revenue
- $143.0m
- Investments
- $0.0
- Employees
- 960
- Location
- Newark, NJ
- Founding
- 01/2005
- Data as of
- 06/2022
- EIN
- 01-0660264
Organization Overview
Team Academy Charter School Inc is located in Newark, NJ. The organization was established in 2005. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Team Academy Charter School Inc employed 960 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Team Academy Charter School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Team Academy Charter School Inc generated $143.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $134.7m during the year ending 06/2022. While expenses have increased by 10.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TEAM ACADEMY CHARTER SCHOOL IS A FREE, OPEN ENROLLMENT, COLLEGE-PREPARATORY PUBLIC SCHOOL DEDICATED TO PREPARING STUDENTS IN UNDERSERVED COMMUNITIES FOR SUCCESS IN COLLEGE AND LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TEAM ACADEMY CHARTER SCHOOL IS A NEW JERSEY PUBLIC SCHOOL OVERSEEN BY THE STATE OF NEW JERSEY DEPARTMENT OF EDUCATION. THE SCHOOL OFFERS AN ACADEMIC PROGRAM TO ASSIST CHILDREN IN DISCOVERING THEIR TALENTS AND PROVIDES A COMMUNITY RESOURCE AND A MEANS TO UNITE PARENTS AND TEACHERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Antonia O'sullivan School Leader | 40 | $168,754 | |
Jenna Marcus School Leader | 40 | $162,890 | |
Kara Brockett School Leader | 40 | $150,973 | |
Veronica Avery School Leader | 40 | $169,136 | |
Stephen Demers School Leader | 40 | $143,422 | |
Joanna Belcher Executive Director | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Professional Climate Control Hvac Services | 6/29/22 | $338,344 |
Jmtk Plumbing Services | 6/29/22 | $103,377 |
Servpro Of Nutley Bloomfield Fire & Water Clean Up/facilities Repair | 6/29/22 | $100,718 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $137,146,307 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,791,579 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $142,937,886 |
| Total Program Service Revenue | $105,102 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $143,042,988 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,259,325 |
| Pension plan accruals and contributions | $1,072,046 |
| Other employee benefits | $8,193,938 |
| Payroll taxes | $3,049,178 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,052 |
| Fees for services: Accounting | $87,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,143,809 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,562,003 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,996,015 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,563,583 |
| Insurance | $210,939 |
| All other expenses | $0 |
| Total functional expenses | $134,713,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,867,735 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $10,768,142 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $713,289 |
| Net Land, buildings, and equipment | $22,296,405 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $143,216,338 |
| Total assets | $203,861,909 |
| Accounts payable and accrued expenses | $9,386,317 |
| Grants payable | $0 |
| Deferred revenue | $86,475 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $19,844,768 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $158,448,160 |
| Total liabilities | $187,765,720 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $17,735,525 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$1,639,336 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $203,861,909 |